https://www.taxtmi.com/caselaws?id=418229 A joint development agreement did not constitute a transfer under section 2(47)(v) of the Income-tax Act, 1961 because the owners retained possession and granted only permission to enter the property for development. The arrangement was treated as permissive possession, not possession taken or retained in part performance of a contract within section 53A of the Transfer of Property Act, 1882. As the statutory condition for deemed transfer was not met, capital gains were not assessable in the year under consideration. en-us Mon, 31 Jan 2022 00:00:00 +0530 Wed, 09 Feb 2022 16:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418229 A joint development agreement did not constitute a transfer under section 2(47)(v) of the Income-tax Act, 1961 because the owners retained possession and granted only permission to enter the property for development. The arrangement was treated as permissive possession, not possession taken or retained in part performance of a contract within section 53A of the Transfer of Property Act, 1882. As the statutory condition for deemed transfer was not met, capital gains were not assessable in the year under consideration. Case-Laws Income Tax Mon, 31 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418229